This paper investigates the major determinants of fund performance and outperformance for the non-listed fund sector. More specifically, it seeks to understand whether fund performance reflects management and stock-selection skills or whether performance is mainly in line with average returns in...

This paper presents the results of two variations of an econometric forecasting model for both German and US office rental markets. The main objective of this approach is to elucidate the capability of time-series regression models of basic market indicators to capture and forecast movements in...

Following the EU Energy Performance of Buildings Directive requiring all buildings at construction, sale or rent (or every ten years) to have certificates providing information about their energy performance through a rating of CO2 emissions, Energy Performance Certificates (EPCs) and the...

The quality of a building's architectural design can be transmitted to its price through a number of channels. There are complex interactions between the different dimensions of brand (of the architect and the building), design (aesthetic and functional) and value (exchange/owner, user/operator...

The aim of this research is to investigate whether intrinsically energy efficient offices in the United Kingdom command a price premium when compared to intrinsically energy inefficient offices that possess otherwise similar characteristics.Since October 2008 the energy efficiency of commercial...

This study uses a unique dataset of the Finnish housing market to investigate the hypothesised link between energy efficiency and house prices. It explores the following research questions: 1) Does the energy efficiency rating of a dwelling have an independent impact on its price and if so, how...

Market segmentation is a standard concept in both strategic marketing and investment analysis. The standard approach in the real estate market context is to segment markets by regions and property types. While this approach provides investment analysts with a powerful basic classification grid,...

This paper aims to extend the existing evidence on the investment value of green buildings to international markets, specifically the residential real estate market in Japan. Using a unique transaction database of condominiums in the Tokyo metropolitan area and a hedonic analytical framework, we...

It has been frequently observed that office markets are subject to high volatility in rents and vacancy levels, thus exposing real estate investors to considerable risk regarding expected future income streams. This paper analyzes the determinants of office rents and their variability over time...

Current research on sustainable property investment focuses mainly on property-level profitability of green buildings along with the development and implementation of eco-certifications. A second strand of studies investigates the company-level financial implications of corporate social...